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the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >> john boehner responded the american people do not support raising the debt ceiling without reducing government spending statement. wendell, a government shut down, is that something that really might happen? neither side is ready to blink yet. he has laid out they are ready to compromise if possible that could lead to a government shut down although probably not right away. president obama suggested right before the u.s. the people at home might be told they have to wait for their money. >> if congressional republicans refuse to pay america's bills on time social security
the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >>...
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translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has already passed. the laws that it's already passed. republicans are saying it's about borrowing authority. essentially running up the country's credit card. >> exactly. what the republicans are saying is look, we maxed out the credit card. it's time before we extend any new credit or allow any new credit to do something aboutbe the spending that got us here. that would seem on the surface to be a reasonable argument. but so far, the republicans have not been able to win it. and what tends to happen in the fights when you get all of this late hour melodrama as we have had in the last cou
translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has...
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the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any conversations about extending the bush tax cuts, what i said we wouldn't extend bush tax cuts for wealthy and we didn't. we can argue during the campaign that i said, i set the criteria for wealthy at 250, and we ended up being at 400. but the fact of the matter is that millionaires, billionaires, are paying significantly more in taxes, just as i said. so from, you know, from the start my concern was making sure that we had a tax code that was fair and that protected the middle class and my biggest priority was making sure middle class tax
the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any...
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the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotiations are looming. would you characterize that as an additional cliff that is facing us? or do you think it
the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in...
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ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting poi
ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members...
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okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling and he must have gone through the same idea 15 times. saying this is about honoring the obligation and paying the bills we have already incured. he raised the debt ceiling on how to depend on the ongoing financial assistance from the foreign country to finance the reckless, fiscal pollty. the point of raising the debt ceiling is to allow to us borrow. he talked about the debt ceiling a dozen times. not once did he use the word "borrow." that means we are going to continue to borrow for every dollar the government spend, only 60 cents of it come from
okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling...
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. >> goodbye fiscal cliff hello debt ceiling. >> the fiscal cliff fight was ugly but will the debt ceiling struggle be eveninging uglier. >> hard to believe but this could get uglier. [ laughter ] the government is aetch perfecting the legal limit for how much kit borrow also known as the debt ceiling. republicans can demand that the president make spending cuts or we'll hit the debt ceiling and go through it. [ laughter ] or get crushed by it or you know what? we might have to make a skylight in it. sounds nice. it's pretty but they rarely get caulked properly and when it rains, it drips and ruins your sisal carpet. the republicans are clearly in a strong position but the president might have a trick up his sleeve. >> is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and a congressman are suggest a $1 trillion platinum coin could be minted and the government could use it to pay the debt, avoid default and preempt the debt ceiling crisis. >> stephen: we should have known that a coin was obama's solution to everything. it was right in his slogan.
. >> goodbye fiscal cliff hello debt ceiling. >> the fiscal cliff fight was ugly but will the debt ceiling struggle be eveninging uglier. >> hard to believe but this could get uglier. [ laughter ] the government is aetch perfecting the legal limit for how much kit borrow also known as the debt ceiling. republicans can demand that the president make spending cuts or we'll hit the debt ceiling and go through it. [ laughter ] or get crushed by it or you know what? we might have...
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ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting poi
ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members...
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Jan 16, 2013
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here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york stock exchange. we can't seem to find our footing. nicole: interestingly enough we are not too far off of the unchanged line but we are up six of the last eight trading weeks. hovering around five year highs. as you noted early on, talk a lot about boeing weighing on the dow jones industrials today play with one issue after another. the s&p 500 down one point at 1471. it is also earning season. how they are faring. they came out obviously earnings-per-share eating earnings slightly miss. a new high for dell. and all those names are lower. continue to follow earnings here all week on fox business
here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york...
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Jan 18, 2013
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debt ceiling all together. liz: plus we have the bond king of canada who knows plenty about our markets. five years ago he said that investors had the opportunity of a lifetime to buy stocks, just as we hit bottom, and we saw that bubble explode. well, he was right. now, what is he saying? 2013 holds the second buy of a lifetime? what is it? and how can you take advantage of it? he is here to talk about it. david: liz has that interview all to herself because i can't begin to pronounce his name. let's tell you what drove the markets. mixed day on wall street with s&p and dow closing in the green. all three major indices ending the week higher. industrials and energy were today's top performing sectors while technology was the only sector ending the day lower. and oil ending the week in the green after the international energy agency raised its global oil demand forecast for the whole year. crude's settling the week up 2.1% at $95.56 a barrel and consumer confidence falling for the second month in a row, droppin
debt ceiling all together. liz: plus we have the bond king of canada who knows plenty about our markets. five years ago he said that investors had the opportunity of a lifetime to buy stocks, just as we hit bottom, and we saw that bubble explode. well, he was right. now, what is he saying? 2013 holds the second buy of a lifetime? what is it? and how can you take advantage of it? he is here to talk about it. david: liz has that interview all to herself because i can't begin to pronounce his...
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Jan 17, 2013
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adam: before we get to the debt ceiling. california overestimated how much tax revenue they would get from the facebook ipo. the overestimated by $600 million. you can hear jerry brown doing a homer simpson. can you trust governments to get the numbers right? the fight over the debt ceiling is in full force. as democratdemocrats propose a o eliminate it completely and the ratings have come out with two scenarios in which it was downgraded the u.s. credit rating. not good news. some republicans are relishing the debt ceiling does indeed have to be raised. joining us now, ihs chief economist and we appreciate you being here. is this fight we are about to have necessary, and what is going to happen to whether it is the global market, 401(k), what will happen to all of us if congress passes this fight? >> this is not a necessary fight. this situation created by congress which sent the debt ceilinfrom years ago in hopes it would impose some discipline but of course it hasn't because it has been raised and raised and raised and no
adam: before we get to the debt ceiling. california overestimated how much tax revenue they would get from the facebook ipo. the overestimated by $600 million. you can hear jerry brown doing a homer simpson. can you trust governments to get the numbers right? the fight over the debt ceiling is in full force. as democratdemocrats propose a o eliminate it completely and the ratings have come out with two scenarios in which it was downgraded the u.s. credit rating. not good news. some republicans...
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>> the problem is not the debt ceiling or debt limit the problem is the debt. the reason why we have a legal limit on the debt if we keep borrowing we're going to hurt everyone who lives there. i think the president is trying to scare people and distract from the main issue. he said he was going to cut the deficit his first year in office we doubled it every year. it's time to make hard decisions. there is ongoing wrong with suggesting over the next ten years, we stop borrowing from our children's future and we balance our budget. we can do that. i think most americans will agree. >> neil: you got to wonder, if the mainstream media that republicans are being obstructionists if they dare reject raising the debt ceiling but they didn't do it to a single democrat seven years ago including senator barack obama, then republicans are damned no matter what they do? >> it's part of the strategy of this administration on fiscal cliff, on all kinds of issues is to frighten people, frighten seniors. we need to reassure seniors with their truth, their social security and m
>> the problem is not the debt ceiling or debt limit the problem is the debt. the reason why we have a legal limit on the debt if we keep borrowing we're going to hurt everyone who lives there. i think the president is trying to scare people and distract from the main issue. he said he was going to cut the deficit his first year in office we doubled it every year. it's time to make hard decisions. there is ongoing wrong with suggesting over the next ten years, we stop borrowing from our...
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ceiling and your own history on the debt ceiling. >> getting votes for the debt ceiling are always difficult and bulge nets this town are always difficult. this is the united states of america, major. we can't manage our affairs in such a way that we pay our bills and we provide some certainty in terms of how we may our bills. if we want to have a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign about it. by the way the american people agreed with me that we should reduce our deficits in a balanced way that takes into account the need for us to grow this economy. martha: bob beckel is former democratic campaign manager and cohost of the five. mary katherine ham is editor at large and fox news contributor. why do you think it was so testy yesterday? >> obama's best form is not necessarily a press conference which is why he does than do many of them. i which he was testy for one real reason. the republicans trying to take the full faith and crucify the united states currency and putting it at fist being.
ceiling and your own history on the debt ceiling. >> getting votes for the debt ceiling are always difficult and bulge nets this town are always difficult. this is the united states of america, major. we can't manage our affairs in such a way that we pay our bills and we provide some certainty in terms of how we may our bills. if we want to have a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign...
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he wants to conduct those talks separately from the gop to raise the debt ceiling. he hopes by doing so he can avert a first ever national default. >> kelly wright live in washington. thank you. >>> it is time to take a look at who is talking. another big battle on capitol hill of course. the gun control debate. joe biden announced his task force regulations. we are hearing from one congressman who has a personal connection to this. >> despite the mash shoot something representative barber says he still supports the second mainedment. >> i feel very strongly that the second amendment should be protected and the supreme court has ruled and there's no question it is a right that all americans have a right to bear arms or have a rifle for that matter. but the issue of the magazines which were used in the shooting in tucson in january of 2011 that's one that we need to take a hard look at. the shooter in our case had 30 bullets in the magazine one more in the chamber in less than 45 seconds 19 people were down and 6 were killed. i saw my boss shot through the head i saw
he wants to conduct those talks separately from the gop to raise the debt ceiling. he hopes by doing so he can avert a first ever national default. >> kelly wright live in washington. thank you. >>> it is time to take a look at who is talking. another big battle on capitol hill of course. the gun control debate. joe biden announced his task force regulations. we are hearing from one congressman who has a personal connection to this. >> despite the mash shoot something...
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senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to uphold the constitution and leave this country better than how we found we can't keep spending our kids inheritance, can't keep spending their money, we don't have it. >> greta: apparently he has threatened, i think his statement, at least people-- that in the event, congress doesn't authorize to raise that debt ceiling that he will do it unilaterally himself and he thinks he has the authority. do you >> absolutely not. under the 14th amendment of the constitution you can only do this as authorized by law and law is only created through the united states congress. so the president has absolutely no ground
senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to...
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let's talk about the debt ceiling debate. we are all focused on this week and the president has been talking about it. what is your view on whether spending cuts should be part of the debt ceiling debate? i think that would be a serious mistake. i'm a republican, i have been so since i voted for ike in 1962 and let me tell you ie mistake. you are not talking about one thing that has to do with cutting spending. you're talking about everything and he paying your debts of the guys in the congress talk about an republican republicans drama. and every one of them has something to do with wanting ... and now you have to pay it. and you better pay and where your country is clearly facing a dire consequences. it shows that you don't give a whit about who's president. >> do you agree with the president and you think that we are risking what? a selloff in the market? 2001. >> what's going to happen if it comes to the worst case scenario here? >> somebody will say, don't forget, we all $16.4 trillion. half of that is owned by private p
let's talk about the debt ceiling debate. we are all focused on this week and the president has been talking about it. what is your view on whether spending cuts should be part of the debt ceiling debate? i think that would be a serious mistake. i'm a republican, i have been so since i voted for ike in 1962 and let me tell you ie mistake. you are not talking about one thing that has to do with cutting spending. you're talking about everything and he paying your debts of the guys in the congress...
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he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and he backed up, and he's not going to back up anymore. he took his argument to the american people in the election. he won the election. they held the house, that is true. but he's decided that he's been vindicated by public opinion broadly, and he's going to try to hold that ground. the question is going to be, larry, at the end of the year on the tax issue, he had the hammer behind him of the expiration of all the bush tax cuts. he does not have that hammer right now. what he has is the prospect of a catastrophic standoff between republicans and democr
he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and...
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ceiling. the u.s. has reached borrowing limit it did so last week by late february or early march. the treasury department will run out of ways to cover its debt and could begin defaulting. the pentagon looking at a request from france for drone support. france wants the assistance as its military takes on al qaeda linked terrorists terrorists in. french troops drive back rebels take back control of big chunk of west african nation. turning now to the civil war raging in syria. international efforts to hold the syrian government responsible for war crimes now. more than 50 nations backing a plane conflict to the international criminal court. this as rebel forces and syrian troops battle for control of key territory outside of syria's capital damascus. the u.n. estimating now 60,000 people have conor powell has the latest russia announcing today it continues to support u.n. backed peace efforts but also undermining those efforts by saying that the removal of president assad from power cannot be
ceiling. the u.s. has reached borrowing limit it did so last week by late february or early march. the treasury department will run out of ways to cover its debt and could begin defaulting. the pentagon looking at a request from france for drone support. france wants the assistance as its military takes on al qaeda linked terrorists terrorists in. french troops drive back rebels take back control of big chunk of west african nation. turning now to the civil war raging in syria. international...
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regarding the debt ceiling. is that something that republicans are willing to do here, or it must be linked? the two have to go hand in hand? >> reporter: they are insisting, and when i say they, i'm talking about house republicans and the senate republican leader, but they have to go hand in hand. this is something that we heard over and over and over again when we had this debate the last time, back in the summer of 2011. andion that ve ioion you know t suzanne. but the house speaker and his aides are telling us that they really mean it this time. that there has to be a dollar of spending cuts for every dollar that the u.s. agrees to raise the debt limit. and that they would even go for a two or three-month extension as they try to work on a more global discussion of cutting spending. but even if there's an extension, it has to go point by point. the other thing i want to mention, suzanne, which i thought was really interesting, after covering the white house under george bush, that last question about the fac
regarding the debt ceiling. is that something that republicans are willing to do here, or it must be linked? the two have to go hand in hand? >> reporter: they are insisting, and when i say they, i'm talking about house republicans and the senate republican leader, but they have to go hand in hand. this is something that we heard over and over and over again when we had this debate the last time, back in the summer of 2011. andion that ve ioion you know t suzanne. but the house speaker...
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ceiling after he's already said it's unpatriotic to exceed the debt ceiling in 2007-2008. he's in a very, very tough place. i think the republicans in the house in congress will give him a hard time, won't make it an easy checkbook. they'll ask for something in return, not sure what it's going to be. they'll probably get it, some negotiation, but, again, we already exceed the debt ceiling. $16.4 trillion tim geithner, fudges numbers around, pay the bills until congress signs the increase in debt ceiling. >> a repeat of the fiscal cliff? >> that's what politics is in dc. this is all games, all threats, all the clock is ticking down. makes you worry if the country's going to default. >> eric, here's the thing -- >> at the end of the day, sorry -- >> yeah. at the enof the day, there's a deal. >> yeah, this is like the debt ceiling is a phony argument. it's really about charter renewal. it's a renewal of a charter do continue spending, and what time and again the american people have been misled on the debt ceiling, what we are talking about you can't default. the government c
ceiling after he's already said it's unpatriotic to exceed the debt ceiling in 2007-2008. he's in a very, very tough place. i think the republicans in the house in congress will give him a hard time, won't make it an easy checkbook. they'll ask for something in return, not sure what it's going to be. they'll probably get it, some negotiation, but, again, we already exceed the debt ceiling. $16.4 trillion tim geithner, fudges numbers around, pay the bills until congress signs the increase in...
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there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there are more than one battle happening. where do you think the negotiations should take place? should be the debt ceiling or the continuing resolution to fund the government or sequestration? caller: the continuing revolution to keep the government going -- resolution. there are many departments we don't need. i was showing my grandchildr the debt clock, telling him how much money he would know when he becomes a taxpayer. he said he does not want to become a taxpayer. this is taxation without representation. they have to get this under control. they need a dyiet. host
there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there...
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the upcoming debt, certainly, the debt ceiling set the tone, really, for what to expect, we think, for the next four years. the battle over that, already. do you see that as the case? >> well, it's certainly going to be a big challenge, both for the president and for republicans. you're already hearing from republicans that came out of their retreat yesterday, essentially walking back, that they were going to use this debt ceiling pretty much to -- you know, as the democrats like to say, to take the economy hostage, to demand spending cuts. they have backed off of that, looking at some plan to raise the debt ceiling at least for the next three months, to give some time for those talks to happen. and there is a big challenge in coming together, because the president still really feels like absolutely, the debt needs to be focus on, it's a huge issue, big priority, but it needs to be done in a balanced way so that all the spending cuts are not focused on programs for those who are most vulnerable. so we'll see. >> so ana, do you think that the debt ceiling will set the tone between the p
the upcoming debt, certainly, the debt ceiling set the tone, really, for what to expect, we think, for the next four years. the battle over that, already. do you see that as the case? >> well, it's certainly going to be a big challenge, both for the president and for republicans. you're already hearing from republicans that came out of their retreat yesterday, essentially walking back, that they were going to use this debt ceiling pretty much to -- you know, as the democrats like to say,...
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ceiling f.congress raises the debt cell what does it do. puts us more in debt. >> it allows him to borrow more money. >>reporter: half the people we talked to had no idea what the debt ceiling was. she blamed lawmakers. >> i believe honestly they make things purposely confuse to go do whatever they want. >>reporter: so if the president wants to turn up the heat on house republicans he has to make the issue clear and as bruce explains, republicans need to decide if they really want to stand their ground on this issue at the risk of economic down tivrnlt i think a lot has to do yes tea party you want to make a case is this the time to do it and right way to do it. that i think is boehner responsibility to explain that to his caucus members. my unitsing that's what he's planning to do over the next couple days. >>reporter: tea party express issued a statement saying it's completely irresponsible for the president of the united states to demagog this issue. the president will have big opportunity to speak to the nation on this if he chooses t t
ceiling f.congress raises the debt cell what does it do. puts us more in debt. >> it allows him to borrow more money. >>reporter: half the people we talked to had no idea what the debt ceiling was. she blamed lawmakers. >> i believe honestly they make things purposely confuse to go do whatever they want. >>reporter: so if the president wants to turn up the heat on house republicans he has to make the issue clear and as bruce explains, republicans need to decide if they...
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Jan 19, 2013
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i want to say one word about the debt ceiling. not many people understand what the debt ceiling is about. raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not the best way to improve your credit rating. all of these issues are important, but it is very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> and number of people have expressed concern about how much of the chill news were addressed in the deal. it went part way, but it leaves a number of issues still on the table and negotiations are looming. would you characterize that as an additional cliff that is facing us? or is it not as concerned as it was
i want to say one word about the debt ceiling. not many people understand what the debt ceiling is about. raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not...
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Jan 18, 2013
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next few months, with this debt ceiling fight. and try to extract more spending cuts out of democrats over the next few months. but again it has become clear through this strategy, appears we're going to have these spending and budgeting fight pretty much every few months in washington, as no long-term strategy is yet to emerge. back to you. ashley: you're thrilled by that, rich edson, thanks so much. tracy: poor guy. all right, let's talk more about that. house republicans laying out their strategy in this debt ceiling fight but will this no budget, no pay thing work to address our physical problems? joining us now, douglas holtz-eakin, president of the american action for rim. rich is talking about we're basically punting the debt ceiling three months. should the republicans drop the debt ceiling fight all together and focus on sequester, continuing resolution? they probably have more room to fight? >> getting it in this order, putting debt ceiling last, other bills first is to their advantage because they're fighting about spen
next few months, with this debt ceiling fight. and try to extract more spending cuts out of democrats over the next few months. but again it has become clear through this strategy, appears we're going to have these spending and budgeting fight pretty much every few months in washington, as no long-term strategy is yet to emerge. back to you. ashley: you're thrilled by that, rich edson, thanks so much. tracy: poor guy. all right, let's talk more about that. house republicans laying out their...
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: markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. and investors have a pretty good feel for how this cliffhanger ends. >> they don't really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that it's going to happen. >> reporter: treasury secretary timothy geithner told congress today that unless it acts, the nation will not be able to pay its bills sometime around mid- february or early march. so with a month of so to go, there is no solution in sight. darren gersh, washington, d.c. >> tom: federal reserve chairman ben bernanke echoed the president's comments on the debt ceiling today, in a speech at the university of michigan, he said congress has to take action to avoid a situation where our government doesn't pay its bills. ahead of that, stocks were mixed, the blue chip dow rose almost 19 points, while the nasdaq dropped eight, and the s&p 500 down a point. >> susie: weighing on the nasdaq today: apple. the stock got crushed, on wo
: markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. and investors have a pretty good feel for how this cliffhanger ends. >> they don't really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that it's going to happen. >> reporter: treasury secretary timothy geithner told congress today that unless it acts, the nation will not be able to pay its...
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ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with that 2006 vote. there is one very big difference between now and 2006. 2006 there wasn't this kind of big protracted battle over the debt ceiling at all. it wasn't a big issue. i was covering politics for nbc at the time. the debt ceiling increase was seen as a procedure and a very partisan vote then but not something you were reporting on for weeks and months like we have in 2011 then and now on the debt ceiling debate and, of course, what happened in 2011 was a loss to the nation's credit rating. there's big differences between
ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with...
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Jan 16, 2013
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the debt ceiling, raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government doesn't pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. as you mention it certainly went part way but it leaves another the issues still on the table, and additional negotiations and are looking. would you characterize that as an additional clip that is facing us, or do you think that
the debt ceiling, raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011...
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president obama tells congress we're not a deadbeat nation, and they need to raise the debt ceiling now, so we can pay our bills on time. >> tom: i'm tom hudson. a sour day for apple investors. the stock tumbles to 11 month lows on new worries about waning demand for the iphone 5. >> susie: but a banner day for g.m., the cadillac ats takes car of the year at the big auto show in detroit, and its new corvette stingray wows gear heads around the globe. >> tom: that and more tonight on "n.b.r."! >> susie: the next big fight in washington has begun. president obama today called on republican lawmakers to authorize an increase in the nations debt limit, saying that messing with it could potentially have catastrophic results for many americans and the overall economy. he warned markets would go haywire if congress does not act, interest rates would rise, and checks to social security beneficiaries would stop. and he said even thinking about the u.s. not paying its bills is irresponsible and, "absurd". darren gersh reports. >> reporter: in his first news conference of the new year the presiden
president obama tells congress we're not a deadbeat nation, and they need to raise the debt ceiling now, so we can pay our bills on time. >> tom: i'm tom hudson. a sour day for apple investors. the stock tumbles to 11 month lows on new worries about waning demand for the iphone 5. >> susie: but a banner day for g.m., the cadillac ats takes car of the year at the big auto show in detroit, and its new corvette stingray wows gear heads around the globe. >> tom: that and more...
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>> they seemed to welcome the idea, the republicans sound willing to extend the debt ceiling. a spokesman for majority leader harry reid says if the house can pass a clean debt ceiling increase to avoid default and allow the white house to to meet its existing obligations we will be happy to consider it. they don't want the drama. >> debt ceiling in a manner that causes no concern to the economy and to global markets, that does not in any way suggest that washington is about to, you know, engage in another process that results in a self-inflicted wound to the economy. >> this afternoon, carney calls on congress to pass an extension of the borrowing limit without delay. bill? >> bill: get ready for another battle. thanks, mike. mike immanuel from washington tonight. top story as we go around the world tonight in 80 seconds. >> china, had happened after a cargo ship ran aground on some rocks and sprang a leak. the crew reportedly trapped for seven hours in stiff winds and wonderful waives. the helicopter team pulled all four people on board to safety in just 35 minutes. germany.
>> they seemed to welcome the idea, the republicans sound willing to extend the debt ceiling. a spokesman for majority leader harry reid says if the house can pass a clean debt ceiling increase to avoid default and allow the white house to to meet its existing obligations we will be happy to consider it. they don't want the drama. >> debt ceiling in a manner that causes no concern to the economy and to global markets, that does not in any way suggest that washington is about to, you...
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ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting. >> lou dobbs is the host of lou dobbs tonight on the fox business network. lou, welcome back. what an extraordinary exchange we saw the president have on that issue. basically his position was, we're raising the debt ceiling whether congress wants to or not. i'm not negotiating with them on it. i'm not following what speaker boehner said is the boehner rule of for every dollar we increase the debt limit there will be a spending cut and i'm not going to let them put a gun at the heads of american people because in his terms, they refuse to pay the bills that they've agreed to pay and when asked about the
ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting....
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and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if it has dropped. >>> it doesn't look like survivors who filed lawsuits against pg & e are for the deadly san bruno explosion will go to trial. during a hearing in san mateo county superior court today, attorneys said they have come up with a process that should take about 90 days to settle the remaining legal claims. about 320 residents filed suit, and so far mediation efforts have netted settlements for some 120 plaintiff. >>> family members and politicians are calling for more resources to prevent military suicide as the number of suicides last year surged. numbers obtained from the pentagon show there were 349
and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if...
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what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount of leverage and interconnected with everything else and sort of see what happened in 2008. it's also this issue of, you know, who gets paid? if you start to have to say maybe soldiers get paid but not paying for the fuel or these doctors will get paid, you know, government is a huge force in our economy. like it or not. and the number of companies that would really be affected from walmart to every defense contractor to giant health care companies, if their ability to collect money that is owed to them is then put in doubt, that triggers a whole, you know, range of activities of ot
what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount...
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and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if it has dropped. >>> it doesn't look like survivors who filed lawsuits against pg & e are for the deadly san bruno explosion will go to trial. during a hearing in san mateo county superior court today, attorneys said they have come up with a process that should take about 90 days to settle the remaining legal claims. about 320 residents filed suit, and so far mediation efforts have netted settlements for some 120 plaintiff. >>> family members and politicians are calling for more resources to prevent military suicide as the number of suicides last year surged. numbers obtained from the pentagon show there were 349
and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if...
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ceiling and debt negotiations. i think it's helped gold also as people look for safety. >> do you agree that the platinum and rally has helped gold and do you think we can look at this platinum rally and make a bigger indication of what is happening in the economy? some people say it's an indication that things are really turning around? >> jackie, i think it's too heavy. the anglo american platinum pulls off 400,000 ounces of platinum per year. that's almost 7% of global demand -- production, rather. that sends the market up. when i got up this morning and looked at the screen, platinum made that 3% today. i looked at the metal sector and looked at things that were undervalued. i think gold short term will benefit but long term i think platinum is going to be a better bet. if platinum stays higher, than going through the latter part of the year, that could signal a change in the market sentiment. gold is your fear and platinum is going to be demand in manufacturing. that could signal a change but not yet. i think
ceiling and debt negotiations. i think it's helped gold also as people look for safety. >> do you agree that the platinum and rally has helped gold and do you think we can look at this platinum rally and make a bigger indication of what is happening in the economy? some people say it's an indication that things are really turning around? >> jackie, i think it's too heavy. the anglo american platinum pulls off 400,000 ounces of platinum per year. that's almost 7% of global demand --...
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obama voted against increasing the debt ceiling. i find it weeferd that his allies, are saying that the people who do that are bads. we have an interesting time coming up. in the next few weeks in the united states, we have the debt ceiling will get to the point of default. we have the tennessee continuing resolution under which the government is running, expires march 28. the sequestration which was put off two months. if i were at the level of a dictator here, i would take the debt ceiling and push it off to say, june 30. you can't fight all three at the same time. a., i believe the democrats are as scared of the sequestration as the republicans are. there is nothing you can cut on the debt ceiling you can't cut on the continuing resolution. so i would say, mr. president, we are going to put the debt ceiling off to june 30. let me tell you why. between now and then, we are going on cut $3 trillion, $4 trillion -- whatever it is on the continuing resolution and the sequestration. if you stop us from doing that, you are going to put
obama voted against increasing the debt ceiling. i find it weeferd that his allies, are saying that the people who do that are bads. we have an interesting time coming up. in the next few weeks in the united states, we have the debt ceiling will get to the point of default. we have the tennessee continuing resolution under which the government is running, expires march 28. the sequestration which was put off two months. if i were at the level of a dictator here, i would take the debt ceiling...
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government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington. they argue markets will see a failure by the unit ed states to pay any of its bills as a threat it could one day stop paying some or all of its bills, including interest on its debt. >> if we pay the chinese the interest we owe them on their sovereign debt holdings, on time and in full, but we don't pay social security recipients or armed services personnel their salaries, is that a default? well, of course it is. >> reporter: a recent inspector general's report found the treasury doesn't have the computer systems in prioritize some payments over others. so if the treasury runs short of cash, it would most likely del
government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington....
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credit rating and the debate over the debt ceiling. why some think this could mean new hope for a minting a trillion dollar coin we could use to pay our bills. we thought that was settled. maybe not. and this high school principal is in hot water after trying to connect with students with a video that he says was meant to be a parody. we'll push play and you decide. and a reporter yesterday challenged the president about whether he's doing enough to reach out to republicans and trying to negotiate the big deal he says he's looking for. we'll show you his response and look at what that could mean for the gun debate, the debt ceiling and the rest. >> most people who know me know i'm a pretty friendly guy. and i like a good party. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. turn you
credit rating and the debate over the debt ceiling. why some think this could mean new hope for a minting a trillion dollar coin we could use to pay our bills. we thought that was settled. maybe not. and this high school principal is in hot water after trying to connect with students with a video that he says was meant to be a parody. we'll push play and you decide. and a reporter yesterday challenged the president about whether he's doing enough to reach out to republicans and trying to...
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ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt ceiling. that's an automatic. we should move forward and talk about how we create jobs. by creating jobs we reduce the deficit. >> jennifer: i'm take taking it as an encouraging sign that the tea party can be moved by public voices. if they can be moved on the debt ceiling of all things, maybe they could be moved on guns. you wrote in the "huffington post," advocating reducing defense spending so you can spend more money and invest in the united states. the question is in the negotiations in congress over the spending do you see that happening? >> we've go
ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt...